Wednesday, May 18, 2011

Clifton Mining Company (CFTN) From Explorer To Producer

Money has started flowing into the coffers of Clifton Mining Company from its partner Desert Hawk Gold Corporation.  Desert Hawk Gold Corp., is the operational company that is doing the mining and milling on the Clifton Mining properties.  They have completely revamped the Cactus Mill and have spent millions getting the mill and the properties ready for production.

According to today's press release, "The pipeline is now filling and Clifton has now received its first check for ore processed and sent to the smelter for refining. Clifton expects to receive checks on an ongoing basis from operations."

The cash flow should only get larger and larger as operations are ramped up.  The beauty of this arrangement is that Clifton Mining doesn't have to do anything at all except sit back and collect the money.  Clifton gets a percentage of all of the ore produced just like a royalty company.

As of December of 2009, Clifton Mining had less than 54 million shares outstanding.  With this low share count and money flowing into the coffers, Clifton is taking on a whole new look and feel.